Benchmark Construction Case Study

A Foundation Built on Trust

Since its beginning dos 1985, Benchmark Construction Company has relied on the Walz Group to deliver superior service and expert accounting advice. Benchmark, a company with annual revenues of over $100 million and a dedication to continued growth, views Walz not just as a resource, but as an integral member of their team.

“When working with an accountant, you are revealing to them the most private aspects of your business,” said Mike Callahan, President of Benchmark. “A relationship based upon accountability and loyalty with the common goal of success— that’s what we have with Walz.”

Trust is rooted in respect and Callahan knows the Walz Group’s reports and recommendations are backed by years of industry-specific knowledge. Walz has over 35 years of experience working with construction companies and participates in multiple construction-focused associations including Keystone Associated Builders and Contractors, Inc., the Construction Financial Management Association and the Building Industry Association of Lancaster Country. This experience enables the Walz Group to deliver objective insights that guide Benchmark toward decisions that bolster their bottom line.

Building Working Capital

Benchmark relies on the Walz team as a full service partner. From general accounting and tax planning to audits and special projects, the Walz Group provides tailored, personal, and expert services every time.

A specialized area of focus is building working capital to secure performance bonds, which allows Benchmark to take on larger jobs. “Working capital is very important for a growing company like Benchmark,” noted Callahan. “Walz has been instrumental in helping us build our current assets and reduce our liabilities.”

The Walz Group’s in-depth reports paint a full picture of the company, giving bonding agents confidence in the accuracy of the numbers provided. “They spend a lot of time auditing the job costs,” Callahan said. “The resulting detailed reports help prove to bonding company agents that Benchmark consistently fulfills its contracts. Completing reports promptly and accurately maximizes our ability to spend less time on spreadsheets and more time focused on building new business.”

Planning Ahead

While building working capital allows Benchmark to secure new business, accurate year-end reports provide insight for forecasting future growth. For over three decades, Benchmark has trusted the Walz Group to provide timely, accurate reports at the end of each fiscal year.

“They are extremely responsive when we need them,” said Callahan. “We close our year on September 30th and by November 15th the audit is complete. They’re able to close our books in a month and a half. That’s impressive.”

The Walz Group makes the audit process personal and spends significant time with Callahan and Benchmark’s CFO. “As the former leader of the construction department, I spent a lot of individual time with them because, come audit time, the bulk of the work takes place around the construction job cost. I talked to them about every single project,” said Callahan. “The Walz Group proactively assists us with our year-end audit beginning in August and this helps us plan our tax strategy,” said Callahan. This type of approach provides Benchmark with the information they need so they can stay focused on the year to come. “We move quickly through the audit process, relying on insight from Walz so we can ensure our team is focused on the work they are doing for our clients,” said Callahan.

30 Years and Counting

The partnership between Benchmark and the Walz Group has stood the test of time. For over 30 years, the Walz team has evolved from an accounting vendor to part of the Benchmark team. “They are definitely a trusted advisor,” said Callahan, “both personally and professionally.”

When asked if he would recommend the Walz Group to another construction company, Callahan said, “No, because I don’t want anyone else to have the best accounting firm,” before conceding he would “if they weren’t a competitor.”